Homework Answers
| Item No. | Quantity | Cost per Unit | Cost to Replace | Estimated Selling Price | Cost of Completion and Disposal | Normal Profit | NRV | NRV less normal profit | Market | Lower of cost or market | Inventory value |
| 1320 | 1,500 | $3.87 | $3.63 | $5.45 | $0.42 | $1.51 | $5.03 | $3.52 | $3.63 | $3.63 | $5,445 |
| 1333 | 1,200 | 3.27 | 2.78 | 4.24 | 0.61 | 0.61 | $3.63 | $3.02 | $3.02 | $3.02 | $3,624 |
| 1426 | 1100 | 5.45 | 4.48 | 6.05 | 0.48 | 1.21 | $5.57 | $4.36 | $4.48 | $4.48 | $4,928 |
| 1437 | 1,300 | 4.36 | 3.75 | 3.87 | 0.30 | 1.09 | $3.57 | $2.48 | $3.57 | $3.57 | $4,641 |
| 1510 | 1000 | 2.72 | 2.42 | 3.93 | 0.97 | 0.73 | $2.96 | $2.23 | $2.42 | $2.42 | $2,420 |
| 1522 | 800 | 3.63 | 3.27 | 4.60 | 0.48 | 0.61 | $4.12 | $3.51 | $3.51 | $3.51 | $2,808 |
| 1573 | 3,300 | 2.18 | 1.94 | 3.03 | 0.91 | 0.61 | $2.12 | $1.51 | $1.94 | $1.94 | $6,402 |
| 1626 | 1,300 | 5.69 | 6.29 | 7.26 | 0.61 | 1.21 | $6.65 | $5.44 | $6.29 | $5.69 | $7,397 |
| Total | $37,665 | ||||||||||
| The amount of Kingbird Company’s inventory = $37665 | |||||||||||
Add Answer to:
Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
X] Your answer is incorrect. Try again. Cheyenne Company follows the practice of pricing its inventory...
X] Your answer is incorrect. Try again. Cheyenne Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis Item No. Quantity Cost per Unit Estimated Selling Price $5.45 Cost to Complete and Sell 1320 1,700 $3.87 $1.94 1333 3.27 4.11 1.21 1426 5.45 6.05 1.69 1437 4.36 3.87 1.63 1510 1,400 1,300 1,500 1,200 1,000 3,500 1,500 2.72 3.93 1.69 1522 3.63 4.72 0.97 1573 2.18 3.03 1.45 1626 5.69 7.26 1.82 From the information above,...
Exercise 9-7 Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...
Exercise 9-7 Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Item No. 1320 1333 Estimated Selling Price $5.36 4.17 5.95 1426 Quantity 1,400 1,100 1,000 1,200 900 700 3,200 1,200 Cost to Replace $3.57 2.74 4.40 3.69 2.38 3.21 1.90 6.19 Unit $3.81 3.21 5.36 4.28 2.68 3.57 2.14 5.59 Cost of Completion and Disposal $0.42 0.60 0.48 0.30 0.95 0.48 0.89 0.60 Normal Profit $1.49 0.60 1.19 1.07 1437...
Splish Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Splish Company follows the practice of pricing its inventory at
the lower-of-cost-or-market, on an individual-item basis.
Item No.
Quantity
Cost per Unit
Cost to Replace
Estimated Selling Price
Cost of Completion and Disposal
Normal Profit
1320
1,500
$3.90
$3.66
$5.49
$0.43
$1.53
1333
1,200
3.29
2.81
4.27
0.61
0.61
1426
1,100
5.49
4.51
6.10
0.49
1.22
1437
1,300
4.39
3.78
3.90
0.31
1.10
1510
1,000
2.75
2.44
3.97
0.98
0.73
1522
800
3.66
3.29
4.64
0.49
0.61
1573
3,300
2.20...
Stellar Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Stellar Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit 1320 1,400 $3.81 $3.57 $5.36 $0.42 $1.49 1333 1,100 3.21 2.74 4.17 0.60 0.60 1426 1,000 5.36 4.40 5.95 0.48 1.19 1437 1,200 4.28 3.69 3.81 0.30 1.07 1510 900 2.68 2.38 3.87 0.95 0.71 1522 700 3.57 3.21 4.52 0.48 0.60 1573 3,200 2.14...
Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit 1320 1,300 $3.23 $3.03 $4.55 $0.35 $1.26 1333 1,000 2.73 2.32 3.54 0.51 0.51 1426 900 4.55 3.74 5.05 0.40 1.01 1437 1,100 3.64 3.13 3.23 0.25 0.91 1510 800 2.27 2.02 3.28 0.81 0.61 1522 600 3.03 2.73 3.84 0.40 0.51 1573 3,100 1.82...
Sheffield Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Sheffield Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Quantity 1,300 1320 $3.74 $3.51 $5.27 $0.41 $1.46 1333 1,000 3.16 2.69 4.10 0.59 0.59 1426 900 5.27 4.33 5.85 0.47 1.17 1437 1,100 4.21 3.63 3.74 0.29 1.05 1510 800 2.63 2.34 3.80 0.94 0.70 1522 600 3.51 3.16 4.45 0.47 0.59 1573 3,100 2.11...
Bonita Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item...
Bonita Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost to Replace Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Normal Profit 1320 1,700 $3.49 $3.27 $4.91 $0.38 $1.36 1,400 1333 1426 0.55 1.09 1,300 1,500 1,200 1510 1522 1573 1,000 3,500 1626 1,500 5.12 5,67 From the information above, determine the amount of Bonita Company inventory The amount of Bonita Company's inventory $
Skysong Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Skysong Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Item No. Quantity 1320 1,500 $3.39 $3.18 $4.77 $0.37 $1.33 1333 2.86 2.44 3.71 0.53 0.53 1,200 1,100 1426 4.77 3.92 5.30 0.42 1.06 1437 1,300 3.82 3.29 3.39 0.27 0.95 1510 2.39 2.12 3.45 0.85 0.64 1,000 800 1522 3.18 2.86 4.03 0.42 0.53 1573 3,300 1.91...
Wildhorse Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Wildhorse Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit 1320 1,500 $3.36 $3.15 $4.73 $0.37 $1.31 1333 1,200 2.84 2.42 3.68 0.53 0.53 1426 1,100 4.73 3.89 5.25 0.42 1.05 1437 1,300 3.78 3.26 3.36 0.26 0.95 1510 1,000 2.36 2.10 3.41 0.84 0.63 1522 800 3.15 2.84 3.99 0.42 0.53 1573 3,300 1.89...
Teal Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Teal Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Estimated Selling Price Cost of Completion and Disposal Normal Profit Cost to Replace $3.06 2.35 $1.28 0.51 3.77 Item No. Quantity 1320 1,300 1333 1,000 1426 900 1437 1,100 1510 800 1522 600 15733,100 1626 1,100 $3.26 2.75 4.59 3.67 2.30 3.06 1.84 4.79 $4.59 3.57 5.10 3.26 3.32 $0.36 0.51 0.41 0.26 0.82 2.04 0.61 3.88 0.41 2.75 1.63 5.30...
X] Your answer is incorrect. Try again. Cheyenne Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis Item No. Quantity Cost per Unit Estimated Selling Price $5.45 Cost to Complete and Sell 1320 1,700 $3.87 $1.94 1333 3.27 4.11 1.21 1426 5.45 6.05 1.69 1437 4.36 3.87 1.63 1510 1,400 1,300 1,500 1,200 1,000 3,500 1,500 2.72 3.93 1.69 1522 3.63 4.72 0.97 1573 2.18 3.03 1.45 1626 5.69 7.26 1.82 From the information above,...
Exercise 9-7 Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Item No. 1320 1333 Estimated Selling Price $5.36 4.17 5.95 1426 Quantity 1,400 1,100 1,000 1,200 900 700 3,200 1,200 Cost to Replace $3.57 2.74 4.40 3.69 2.38 3.21 1.90 6.19 Unit $3.81 3.21 5.36 4.28 2.68 3.57 2.14 5.59 Cost of Completion and Disposal $0.42 0.60 0.48 0.30 0.95 0.48 0.89 0.60 Normal Profit $1.49 0.60 1.19 1.07 1437...
Splish Company follows the practice of pricing its inventory at
the lower-of-cost-or-market, on an individual-item basis.
Item No.
Quantity
Cost per Unit
Cost to Replace
Estimated Selling Price
Cost of Completion and Disposal
Normal Profit
1320
1,500
$3.90
$3.66
$5.49
$0.43
$1.53
1333
1,200
3.29
2.81
4.27
0.61
0.61
1426
1,100
5.49
4.51
6.10
0.49
1.22
1437
1,300
4.39
3.78
3.90
0.31
1.10
1510
1,000
2.75
2.44
3.97
0.98
0.73
1522
800
3.66
3.29
4.64
0.49
0.61
1573
3,300
2.20...
Sheffield Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Quantity 1,300 1320 $3.74 $3.51 $5.27 $0.41 $1.46 1333 1,000 3.16 2.69 4.10 0.59 0.59 1426 900 5.27 4.33 5.85 0.47 1.17 1437 1,100 4.21 3.63 3.74 0.29 1.05 1510 800 2.63 2.34 3.80 0.94 0.70 1522 600 3.51 3.16 4.45 0.47 0.59 1573 3,100 2.11...
Bonita Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost to Replace Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Normal Profit 1320 1,700 $3.49 $3.27 $4.91 $0.38 $1.36 1,400 1333 1426 0.55 1.09 1,300 1,500 1,200 1510 1522 1573 1,000 3,500 1626 1,500 5.12 5,67 From the information above, determine the amount of Bonita Company inventory The amount of Bonita Company's inventory $
Skysong Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Item No. Quantity 1320 1,500 $3.39 $3.18 $4.77 $0.37 $1.33 1333 2.86 2.44 3.71 0.53 0.53 1,200 1,100 1426 4.77 3.92 5.30 0.42 1.06 1437 1,300 3.82 3.29 3.39 0.27 0.95 1510 2.39 2.12 3.45 0.85 0.64 1,000 800 1522 3.18 2.86 4.03 0.42 0.53 1573 3,300 1.91...
Teal Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Estimated Selling Price Cost of Completion and Disposal Normal Profit Cost to Replace $3.06 2.35 $1.28 0.51 3.77 Item No. Quantity 1320 1,300 1333 1,000 1426 900 1437 1,100 1510 800 1522 600 15733,100 1626 1,100 $3.26 2.75 4.59 3.67 2.30 3.06 1.84 4.79 $4.59 3.57 5.10 3.26 3.32 $0.36 0.51 0.41 0.26 0.82 2.04 0.61 3.88 0.41 2.75 1.63 5.30...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago